A group formed by billionaire entrepreneur and former Los Angeles Dodgers owner Frank McCourt has made a formal offer to buy TikTok from its China-based parent company, ByteDance.

The app’s availability in the U.S. has been thrown into jeopardy over data privacy and national security concerns.

With the future of TikTok’s ownership hanging in the balance, two uber-rich, politically connected investors are lying in wait, hoping to snag the app if it’s ultimately put on the market.

An organization founded by billionaire Frank McCourt, the former owner of the Los Angeles Dodgers, and its partners on Thursday said they made a formal bid to acquire the U.S. assets of TikTok as the popular social media platform faces a possible nationwide ban later this month.

McCourt's Project Liberty proposes a bid for the US operations of TikTok. McCourt's Project Liberty Proposes Bid

Entrepreneur and former Los Angeles Dodgers owner Frank McCourt’s Project Liberty and its consortium of partners in The People’s Bid said today they proposed to make a formal bid to ByteDance to buy TikTok’s U.

Frank McCourt’s Project Liberty consortium has proposed to buy TikTok’s US assets, securing financial backing for the deal.

As TikTok inches closer to a ban in the US, billionaire Frank McCourt's non-profit organization - 'Project Liberty,' along with a group called

Canadian entrepreneur Kevin O’Leary has announced a reported partnership with real estate magnate Frank McCourt to purchase TikTok. This acquisition, which O’Leary described as a

Kevin O’Leary, star of Shark Tank, has announced his partnership with former Dodgers owner Frank McCourt to bid for TikTok’s U.S. operations, potentially preventing the app from facing a government-mandated ban.

The internet advocacy group's proposed purchase would bring TikTok under American ownership and prevent it from being banned in the U.S.